These policies were revised as part of our periodic scheduled review.
Updates made to the Unrestricted Fund Expense Policy include: · Alcohol moved from permissible to non-permissible · Dinner business meal per diem ceiling raised from 110% to 150% of federal rates · Gifts for retirees continue to be allowed at $25 per year of service, but years of service capped at 30 years · Gifts; added stipulation that tangible gifts over $400 must be treated as compensation · Outside parties removed as responsible party for compliance with the policy · Other minor language adjustments Updates made to the Capitalization Policy include: · Including software purchases or subscriptions of $5,000 or more as capital assets (per OMB 2 CFR 200.12) · Changing the requirement from when assets must be entered into RAMI from 60 days of the asset being placed into service to 90 days of the payment date (to be consistent with other RF policies and procedures)
Please be advised that the Unrestricted Fund Expense Policy and Capitalization Policy have both been updated.
These policies were revised as part of our periodic scheduled review.
Updates made to the Unrestricted Fund Expense Policy include:
· Alcohol moved from permissible to non-permissible
· Dinner business meal per diem ceiling raised from 110% to 150% of federal rates
· Gifts for retirees continue to be allowed at $25 per year of service, but years of service capped at 30 years
· Gifts; added stipulation that tangible gifts over $400 must be treated as compensation
· Outside parties removed as responsible party for compliance with the policy
· Other minor language adjustments
Updates made to the Capitalization Policy include:
· Including software purchases or subscriptions of $5,000 or more as capital assets (per OMB 2 CFR 200.12)
· Changing the requirement from when assets must be entered into RAMI from 60 days of the asset being placed into service to 90 days of the payment date (to be consistent with other RF policies and procedures)
Training in Compliance and Ethics:
http://www.rfsuny.org/Our-Work/Compliance/Corporate-Ethics-and-Values/